Abhi Paul
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f you’re experiencing stress surrounding Tax Day, April 15, you’re not alone. From concerns about being audited to facing a tax bill you can’t afford, there are plenty of reasons to dread tax time. But you don’t have to go it alone. You can hire a tax expert for peace-of-mind and professional guidance. But if you’d prefer to do your taxes yourself, you can choose from a host of tax software programs. Many cost less than you think and some may even be free of charge for taxpayers who qualify.
If you have unpaid federal taxes past the April 15 deadline, you could be looking at additional penalties and fines on top of your tax bill. The IRS charges hefty penalties for failure to file your taxes by April 15 (Tax Day falls on April 15 most years) or failure to pay your taxes on time.Fortunately, there is help for taxpayers who failed to meet their tax obligations for payments or filings. The IRS offers a few ways to qualify for penalty abatement, which can shave hundreds of dollars off your tax debt and move you steps closer to financial freedom.